Blueprint Announces Two SNF Deals
Two Blueprint Healthcare Real Estate Advisors teams helped a couple of institutional owners divest or find new tenants for their senior care assets. Michael Segal and Gideon Orion first represented a REIT in the re-leasing of its 143-bed skilled nursing facility in San Antonio, Texas. Built in 1967 about 15 minutes north of downtown, the facility maintained a four-star rating from CMS, the highest in the area. Despite three regional hospitals within 10 miles of the facility and its enrollment in the state’s QIPP managed Medicaid program, the SNF struggled with census. Part of a larger portfolio owned by the REIT and operated under a master lease structure with the... Read More »
Newmark Sells Major SNF Portfolio
Last week we wrote that Newmark (formerly Newmark Knight Frank) was going to have a big fourth quarter. And they have, with five sales transactions worth well in excess of $400 million, plus a few financings, and we still have a few weeks to go before the end of the year. The largest sale, which we previously reported on, was the six communities in Massachusetts that sold for about $200 million in a recap of the portfolio previously owned by Welltower. Most recently (early December), however, was one of the larger skilled nursing portfolio sales of the year. With nine facilities and 1,014 beds in Virginia, this portfolio was sold for just over $150,000 per... Read More »
Newmark Strikes Again, and Again
We had reported a few months ago that Newmark (formerly Newmark Knight Frank) was going to have a big fourth quarter. And they have, with five sales transactions worth well in excess of $400 million, plus a few financings, and we still have a few weeks to go before the end of the year, and a few more deals. The largest sale this quarter, which we previously reported on, was the six communities in Massachusetts that sold for about $200 million in a recap of the portfolio previously owned by Welltower. Most recently (early December), however, was one of the larger skilled nursing portfolio sales of the year. Details will be available soon, but let’s just say it will be... Read More »
Senior Care Stocks Stay High After Vaccine News
After Pfizer’s vaccine announcement on November 9, pretty much every publicly traded senior care provider and REIT saw their share prices jump significantly. We believe that much of the exuberance was mainly from the removal of uncertainty surrounding both the vaccine and the election, but as we said earlier this month, it is not like no one thought a vaccine would not be available in the months ahead. And there was still the fact that the Pfizer vaccine needs to go through the FDA approval process, not to mention manufacturing tens of millions of doses, and then distributing them. But we also wondered if investors had gotten a little ahead of themselves,... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
